Mr Seidel’s exit agreement with Burford void27 Sep 2019 10:43
Please use the sharing tools found via the share button at the top or side of articles. Copying articles to share with others is a breach of FT.com T&Cs and Copyright Policy. Email licensing@ft.com to buy additional rights. Subscribers may share up to 10 or 20 articles per month using the gift article service. More information can be found at https://www.ft.com/tour.
https://www.ft.com/content/e8f8e5a8-e06e-11e9-9743-db5a370481bc
Mr Seidel has hired law firm Herbert Smith Freehills in London and could file a claim in London’s High Court or New York, according to one person close to the matter.
His claim could turn on a reorganisation of Burford Capital in 2012 in which the company acquired Burford Group, ending its arrangement with the external investment management firm. The overhaul may have rendered Mr Seidel’s exit agreement with Burford void, the person said.
A person close to Burford said Mr Seidel was attempting to gather documentation in a disclosure process.
Burford Capital said Mr Seidel was “a disgruntled former employee who sold his interest in Burford in 2011 for a multimillion-dollar cash payment. Eight years later he has returned to seek more cash”.
It added that it “strongly believes that the court will strike out any claim as entirely without merit well before any trial”.
Mr Seidel declined to comment.